NumerixS Investment Technologies Inc Lowers Stake in SEI Investments (NASDAQ:SEIC)
NumerixS Investment Technologies Inc decreased its stake in shares of SEI Investments (NASDAQ:SEIC) by 51.0% in the 1st quarter, HoldingsChannel reports. The fund owned 3,636 shares of the asset manager’s stock after selling 3,782 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in SEI Investments were worth $190,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in SEI Investments by 4,406.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,250,355 shares of the asset manager’s stock worth $70,000 after purchasing an additional 3,178,224 shares during the last quarter. Norges Bank acquired a new position in SEI Investments during the fourth quarter worth $65,129,000. Millennium Management LLC boosted its holdings in SEI Investments by 78.4% during the fourth quarter. Millennium Management LLC now owns 1,275,814 shares of the asset manager’s stock worth $58,943,000 after purchasing an additional 560,833 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in SEI Investments by 67.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock worth $40,030,000 after purchasing an additional 349,016 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in SEI Investments during the fourth quarter worth $15,841,000. 68.76% of the stock is owned by institutional investors.
Several research analysts recently commented on the stock. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Friday, April 12th. William Blair restated a “market perform” rating on shares of SEI Investments in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods cut shares of SEI Investments from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $56.00 to $64.00 in a report on Sunday, April 14th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $66.20.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). The firm had revenue of $400.82 million during the quarter, compared to analyst estimates of $404.82 million. SEI Investments had a net margin of 29.64% and a return on equity of 29.76%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, research analysts predict that SEI Investments will post 3.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Tuesday, June 11th. SEI Investments’s dividend payout ratio is currently 21.02%.
In other SEI Investments news, VP Kathy Heilig sold 16,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $51.50, for a total value of $824,000.00. Following the completion of the sale, the vice president now owns 17,891 shares in the company, valued at $921,386.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Klauder sold 7,500 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $52.89, for a total transaction of $396,675.00. Following the completion of the sale, the insider now owns 24,841 shares of the company’s stock, valued at approximately $1,313,840.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,500 shares of company stock valued at $1,480,475. Corporate insiders own 22.60% of the company’s stock.
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About SEI Investments
SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
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